Regular Savings Accounts: The Best Currently Available List!

pafpcg

colsten said:

I've won my cat-and-mouse game with Monmouthshire! After they had twice returned my opening bank transfer, and deleted the addition of the account to online banking, it was finally third time lucky. The account is now finally showing as funded, as of August 28.

 My partner & I are in same position as Colsten - two sole accounts opened and credited with the £250 sent on Friday 28-Aug.  The standing order has been amended so that the September contributions will be paid tomorrow (Friday 4th).

What made me smile was that the account was opened and funded on the same day as a member of Monmouthshire's staff sent a secure message, timed at 16:04, to say that my attempt to link the regular saver account to my on-line account had been removed because the account didn't yet exist!  Clearly, the system in use at MonmouthshireBS doesn't update itself in "real-time" so that all departments can see the current situation.

At least I didn't suffer the insult of having my funds bounced-back as colsten did.

10_66

Fingerbobs said:

Is anyone else still waiting for their MonBS paperwork? I haven't received anything since applying on 23rd August.

I applied online same day and nothing yet either.

typistretired

I hope it is the same story for me. The deposit sent yesterday has not yet bounced back! I received 2 secure messages yesterday 
One said they had still not received my signed document 
The second said they had removed my account from the list etc.
I really don’t understand why when you are already a member you have to keep signing forms.

surreysaver

typistretired said:

I hope it is the same story for me. The deposit sent yesterday has not yet bounced back! I received 2 secure messages yesterday 
One said they had still not received my signed document 
The second said they had removed my account from the list etc.
I really don’t understand why when you are already a member you have to keep signing forms.

It takes a few days for the deposit to bounce back.  When I opened a couple of accounts with them back in April that was the case, anyway.

JamesRobinson48

Interestingly, I see from its website that Monmouthshire BS has now restricted its Regular Saver Bond Issue 4 (much discussed on this thread lately) to face-to-face, in branch applications only.  Implicitly this small BS wasn't geared up to handle the sheer numbers.  It's not the first time they've done that:  if you're not local to the MonBS, sometimes you need to be quick!

typistretired

Mine is now showing as open and first deposit received yesterday 2nd September 2020.

lhsecons

typistretired said:

Mine is now showing as open and first deposit received yesterday 2nd October 2020.

A month early!!!

liamcov

typistretired said:

liamcov said:

I'm in the same position, what is the process now then (I haven't opened an account with the via post before) - will they send another letter with account details etc or will the account appear within their online banking?

I presume you have not yet received your letter which requires you to sign and send back.  That letter will give your account number but until they receive your signature and you make a deposit the account will not be fully opened.  I have other accounts with them so have online access already .

Thanks. Yes I received that and sent off my signature, I don't recall seeing any account number so I will just have to double check at whatever I've filed away.

So have I got this right - the account will only accept funds after they receive the signature and process that on their system whatever they need to do? But we don't necessarily know when that is unless it can be added to the online account?

I bet some of the staff are fuming with all this extra workload and having to deal with secure messages. But then again why create such a convoluted way of opening a savings account, who thought up all of these ridiculous hoops we have to jump through, or is it simply because they haven't caught up with the times yet.

typistretired

lhsecons said:.

A month early!!!

Well spotted! Must have been the excitement 😂

schiff

JamesRobinson48 said:

Interestingly, I see from its website that Monmouthshire BS has now restricted its Regular Saver Bond Issue 4 (much discussed on this thread lately) to face-to-face, in branch applications only.  Implicitly this small BS wasn't geared up to handle the sheer numbers.  It's not the first time they've done that:  if you're not local to the MonBS, sometimes you need to be quick!

This for me emphasises, if even emphasis was needed, how very useful the MSE Savings and Investment threads are to get into these things early. If it wasn't there I would be much poorer, taking the last few years into account.